ANTIFRAUD ADVISORY FAQ


Our financial juridical sector advert the most fraud terms that appear over the internet.

· Bank Guarantee
· Letter of Intent
· MT-760
· MT-799
· NCND Agreement by ICC
· Performance Bond
· Proof of funds
· Standby Letter of Credit

Bank Guarantee

"Bank Guarantee" is loosely used to signify any one of several financial instruments used in trade finance.  These include LETTERS OF CREDIT in their various roles, DEMAND GUARANTEES, and PERFORMANCE BONDS.

Financial con artists persuade their marks that there is a wonderful, secret opportunity available in trading so-called  PRIME BANK GUARANTEES, or PBG's. 
They use the term as if it were a stand-alone financial instrument that can be obtained in quantity like stocks and bonds, and attach all sorts of quick wealth accumulation to the myth. 

One finds the use of Bank Guarantee, BG, and PBG in HIGH-YIELD INVESTMENT PROGRAM scams, in which the investor is told many a tale about leveraging anywhere from $10,000 to $10,000,000 to purchase hundreds of millions or even billions of dollars worth of guarantees on day one, then selling them on day two for huge profits.
The truth of the matter is that the buying and selling of trade finance instruments is a highly specialized field, relegated only to experienced forfeiters and the forfeiting department of international banks.  Forfeiting requires an intimate working knowledge of international politics, law, and economy.
As for selling a Bank Guarantee for profit, wouldn't really be very practical.

Letter of Intent

A Letter of Intent is written once a general agreement has been worked out between parties such as a buyer and a seller, and outlines the various points of the general agreement.  An LOI is usually non-binding and contains a non-binding clause. 
An LOI cannot and will not ever be considered a contract. This is simply contrary to contract law. The seller and buyer will always have to enter into an enforceable commercial contract. An LOI is simply just that, an expression of interest or intention. More than 95% of the time the LOI is written by a broker, not the actual seller, and for the most part, these brokers have just cut and pasted information on how to write an LOI from another broker so check for several errors, and remember it holds NO contractual bearing whatsoever. The laws of perjury do not apply to ANY commercial document, LOI or agreement. This is contrary to contract law and it is impossible for someone to perjure themselves in a letter of intent or interest.

MT-760

Is not a proof of funds, blocking of funds, movement of funds, or a fund settlement. MT-760 serves ONE purpose only it is for the movement of a bank guarantee (NOT MTN’s or any bonds) from the sellers bank officer to the buyers bank officer, these are used in buy/sells of BG's ONLY.

MT-799

MT-799 is a simple text message sent bank to bank. In this business, this is used for a bank to bank proof of funds only. The MT-799 is not a form of payment, and it is not an undertaking or promise to pay. It is simply a bank to bank confirmation of “funds on deposit”, nothing more. A lot of scammers have modified the use of the MT-799 to make it look like a bank undertaking they are just kidding themselves, this is never the case.

NCND Agreement by ICC

The I.C.C., Paris/France is not an enforcement, adjudication, or legislative body. They are simply an informational body and they have published only one publication on the subject of an NCND called OCCASIONAL INTERMEDIARY MODEL CONTRACT No. 769e issued on May 25, 2015, however the format is not a NCNDA but an occasional contract useful to be in some way protected by ICC. Accordingly the ICC has no jurisdictional authority or standing in any commercial agreement, the form 769e shall be intended as just a guide to the contract between two party on which one is an occasional intermediary. In the underground network NCND's are handed out like candy.  It is the very first request from one Intermediary to another.  Often everything is crammed into one of these NCND's so that they may run several pages, with the signatory page being rife with parties to the agreement.  Even commission figures are sometimes included, although commissions are part of a separate agreement in the normal course of business.  One sure-fire way to spot a phony NCND is by a referral to the International Chamber of Commerce (ICC) UCP400, UCP500 or UCP600.  The UCP400 or 500 or 600 are booklet outlining standard practices for Documentary Credits and has absolutely nothing to do with NCND's.